FY14 Budget likely to see expenditure freeze

SummaryIn what would be a strong signal to markets and investors, the government is set to revise downwards the budgetary expenditure for 2012-13 by 9% to Rs 13.6 lakh crore from the initially estimated R14.9 lakh crore and peg the size of Budget 2013-14 at roughly the same level as the revised figure for this fiscal.